First Trust Advisors LP lowered its stake in shares of ConnectOne Bancorp Inc (NASDAQ:CNOB) by 27.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,819 shares of the financial services provider’s stock after selling 32,295 shares during the quarter. First Trust Advisors LP owned about 0.27% of ConnectOne Bancorp worth $2,111,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of CNOB. Quantitative Systematic Strategies LLC bought a new position in shares of ConnectOne Bancorp in the 3rd quarter valued at $454,000. Prudential Financial Inc. raised its position in ConnectOne Bancorp by 24.9% during the 2nd quarter. Prudential Financial Inc. now owns 22,529 shares of the financial services provider’s stock worth $508,000 after purchasing an additional 4,490 shares during the last quarter. Wells Fargo & Company MN raised its position in ConnectOne Bancorp by 18.0% during the 2nd quarter. Wells Fargo & Company MN now owns 35,666 shares of the financial services provider’s stock worth $804,000 after purchasing an additional 5,436 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in ConnectOne Bancorp by 25.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 139,592 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 28,064 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in ConnectOne Bancorp during the 2nd quarter worth $798,000. 68.57% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $32.00 price objective on shares of ConnectOne Bancorp in a research report on Thursday, October 26th. Piper Jaffray Companies reissued a “buy” rating and issued a $29.00 price objective on shares of ConnectOne Bancorp in a research report on Thursday, October 12th. Finally, Zacks Investment Research upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating and set a $30.00 target price for the company in a research note on Monday, October 30th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. ConnectOne Bancorp has a consensus rating of “Buy” and an average price target of $30.38.
ConnectOne Bancorp Inc (NASDAQ:CNOB) opened at $27.70 on Tuesday. ConnectOne Bancorp Inc has a 12 month low of $21.04 and a 12 month high of $28.20. The stock has a market capitalization of $874.02, a PE ratio of 16.55 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.98.
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ConnectOne Bancorp Company Profile
ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank). The Bank is a community-based, full-service New Jersey-chartered commercial bank. The Bank offers a range of deposit and loan products. In addition, to attract the business of consumer and business customers, it also provides an array of other banking services.
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